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The Education of Millionaires: It's Not What You Think and It's Not Too Late Hardcover – September 29, 2011
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"Success in the twenty-first century depends on street smarts, not book smarts. It has to do with your motivation, network, passion, and ability to make other believe in you. You'll learn stuff in college, but you won't develop these skills-which are requisite for success in life. Whether you go to college or not, The Education of Millionaires will help you learn what it takes to succeed in today's entrepreneurial economy." — Dale J. Stephens, founder of Uncollege.org
"Michael Ellsberg's book is provocative and wise. Tuition is skyrocketing, job prospects are grim, and the race for bogus credentials has turned into a runaway status competition for positional goods. The Education of Millionaires offers a renegade path for anyone who wants vital skills without the crushing burden of student debt." — Peter Thiel, co-founder of PayPal, creator of the Thiel Fellowship
"Your success in a knowledge society depends on mastery of soft skills and practical intelligence-and yet they don't show up in college or high school curriculums. Ellsberg's rebellious book provides a street-smart education to fill the gap." — Keith Ferrazzi, author of #1 NY Times bestseller Who's Got Your Back
"As Michael so aptly explains in this delightful read: your education starts in the crib and ends when you take your final breath. In a fully realized life, it is all about lifelong learning." — Lynda Resnick, vice chairman of Roll International, Teleflora, and PomWonderful
"Self-education is the key to upgrading your mind and your life. Michael's book teaches you how to unlock the education available outside of classes, all around you." — Matt Mullenweg, creator of WordPress.org
"This book is a masterpiece. Gripping and whip-smart, The Education of Millionaires will forever revolutionize your thoughts on the connection between education, career success and prosperity. Ellsberg is careful to avoid 'motivational fluff' and instead provides mind-blowingly sharp (and humorous) brass-tacks advice on how to profit handsomely by becoming a lifelong learner." — Jenny Blake, author of Life After College
"If entrepreneurs were running schools, instead of bureaucrats, schools would be teaching a lot more of the skills and mindsets found in this book. Since they're not, this book is a necessary antidote to a traditional college education." — Scott Banister, founder of IronPort Systems, Banister Capital
"This is the must read of the next era of education. This one book could be all the education you ever need to massively outperform even the Ivy League. The secrets contained are brilliant and simple to adopt." — Cameron Herold, author of Double Double, former COO of 1-800-GOT- JUNK?
"Just like the entrepreneurs he highlights in his book, Ellsberg challenges the conventional wisdom of what it takes to make it in this world. If you have an idea and the drive, nothing can stop you. And Ellsberg proves it." — Simon Sinek, author of Start With Why
"You don't need a degree to live life on your own terms: you need economically valuable skills. Ellsberg's book is the blueprint for entrepreneurial education." — Josh Kaufman, author of The Personal MBA
"Provocative and timely, Ellsberg lays bare what he sees as a giant hole in much of traditional education-a focus on 'academic' knowledge and a de-emphasis on the knowledge and skills necessary to actually succeed in life. Drawing from a wealth of interviews with successful entrepreneurs, he hones in on seven key success skills that help put you back in the driver's seat." — Jonathan Fields, author of Uncertainty
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I'm a big fan of the bootstrapping approach because using debt/leverage can be a very dangerous approach, especially in a small to medium size business.
And the author does a brilliant job of making the case for why we should look at funding our college education, and the college education of our children, using the same bootstrapping principles. It will make you give serious thought to outlawing the use of student loans in your family. The number of student loans that go horribly wrong is breathtaking. Don't put your kids through that.
This book will help you and your kids develop a plan that gets them through school without having a ball and chain to drag around their entire life.
This was a great read, full of useful, PRACTICAL insights into what it takes to become a millionaire in today's world.
I love the relatively risk-free approach of the author, and the fact that he actually encourages you to find a job in order to get a feel for what it's like not worry too much or become a starving artist.
Also, and here is the kicker:
After reading a lot of business / self help, you want to begin taking ACTION.
In this stage, what I found to be great for that, is CASE STUDIES. This book is full of those.
If you are looking for a practical, conclusive book on what skills are required to become successful in todays world, together with TONS of case studies, this one is definitely for you.
The author repeats itself on a numerous occasions. I understand that he is trying to highlight particular view(s)/statements but I think he has overdone it. Repeating some of it more than twice gives me the impression that he just writes for the sake of writing rather than for the sake of spreading and sharing useful knowledge. Furthermore, I find hard to rely on the expertise of someone who is not a millionaire himself. Although, there are many other people he mentions, he just mentions them rather than gets (in fact, he provides some details and facts but far less than I have expected) in a thorough analysis of what made them that successful. His wife, has a net worth of approx $500k. Well done, but that's the level many of the readers have already surpassed by a big big margin. Thus, the book was entertaining rather than educational and for that reason I am not purchasing anything more written by this author.
If you're planning to go to college, you ought to read this first and be able to explain why college is still right for you. (If you really want to become, say, a medical doctor or physics professor, many years of college *are* necessary.)
Later portions of the book, for my taste, were overly-focused on selling information products via the internet. But, the author's personal expertise is in the areas of writing and the internet, so that's his focus.
In sum-- This book is not a complete education in itself, but it's great for brainstorming alternative ways to get the knowledge, skills, and experience you need, whatever your field.
"I have just finished The Education of Millionaires. It was the most useful book I've read - thank you for writing it! It really spoke to me on several levels...Your book really crystallized these notions and gives such wonderful tools to the first-time entrepreneur, especially one who has been conditioned to think 'sales' and 'marketing' are dirty words and sheltered from how crucial these aspects are to any business. I've ordered all the books you reference and can't wait to start writing better copy, selling in a more compassionate way, and marketing in ways other than brand/image marketing!
I am recommending the book to all of my closest friends. The stories you tell inspire. The resources you cite will edify. It will be my starting point for my self-education in business for a long time."
If you want to read something inspiring and thought provoking then this book should be in your collection
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